# Development Bank of Wales: portfolio, investments and team

> Development Bank of Wales is a government based in United Kingdom. 123 investments on record, 25 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/development-bank-of-wales (Millionrounds; every figure on the page links to its filing or article)

United Kingdom · [Investor](https://millionrounds.com/investors)

# Development Bank of Wales

Last cheque observed Oct 2026; 123 cheques on record.

Deploying now Government

Pre-seed Seed Series A Banking Wealthtech Regtech

Deploying now

**89%** of best year **25** **cheques in 12 months**, 123 on record

Since the last cheque **26** days **00** hrs **00** min **00** sec

Median round **$1.3M** Rounds led **1 of 123** Sole investor **59 rounds** Mostly in **United Kingdom, 88%**

Pitch Development Bank of Wales

## Development Bank of Wales highlights

- 01 25 cheques in the last 12 months
- 02 Mostly Seed and Venture: 67% of its rounds
- 03 Sole investor in 59 rounds, median $668K

## What they do

- **Type:** Government (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Banking Wealthtech Regtech
- **Based in:** Wrexham, United Kingdom
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **123 appearances**

- **2026** 22 rounds
- **Oct** **[Reclinker](https://millionrounds.com/company/reclinker)** Series A · GB · Firms' own news pages **$13M** With 5 others
- **Sept** **[Argonaute RNA](https://millionrounds.com/company/argonaute-rna)** Venture · GB **$1.8M** Sole investor
- **Aug** **[Kubos Semiconductors](https://millionrounds.com/company/kubos-semiconductors)** Grant · GB · Turquoise International **$2.1M** *Led*
- **Jun** **[Egni Co-op](https://millionrounds.com/company/egni-co-op)** Debt · AU **$1.9M** Sole investor
- **Jun** **[Space Forge](https://millionrounds.com/company/space-forge)** Grant · GB **$13M** With 4 others
- **Jun** **[Hexigone Inhibitors](https://millionrounds.com/company/hexigone-inhibitors)** Seed · GB **$1.6M** With 2 others
- **Jun** **[Breaking Change](https://millionrounds.com/company/breaking-change)** Pre-seed · GB **$981K** With 2 others
- **May** **[Locit](https://millionrounds.com/company/locit)** Debt · AU **$1.3M** Sole investor
- **May** **[K3 Metrology](https://millionrounds.com/company/k3-metrology)** Seed · GB **$3.7M** With 2 others
- **Apr** **[Open Moove](https://millionrounds.com/company/open-moove)** Pre-seed · GB **$949K** With 1 other
- **Apr** **[Ecodetect](https://millionrounds.com/company/ecodetect)** Seed · GB **$662K** Sole investor
- **Apr** **[Corryn Biotechnologies](https://millionrounds.com/company/corryn-biotechnologies)** Seed · GB **$662K** With 3 others
- **Apr** **[Goldwise](https://millionrounds.com/company/goldwise)** Pre-seed · GB **$683K** Sole investor
- **Mar** **[IQ Endoscopes](https://millionrounds.com/company/iq-endoscopes)** Venture · US **Undisclosed** Sole investor
- **Mar** **[Antiverse](https://millionrounds.com/company/antiverse)** Series A · GB **$9.3M** With 3 others
- **Feb** **[Sidekick](https://millionrounds.com/company/sidekick)** Series A · GB · Eos Venture Partners **$11M** With 12 others
- **Feb** **[PlantSea](https://millionrounds.com/company/plantsea)** Venture · GB **Undisclosed** With 4 others
- **Feb** **[CoinCover](https://millionrounds.com/company/coincover)** Venture · GB **Undisclosed** With 4 others
- **Feb** **[MeOmics Technology](https://millionrounds.com/company/meomics-technology)** Venture · GB **$408K** With 1 other
- **Feb** **[Jellagen](https://millionrounds.com/company/jellagen)** Venture · GB **Undisclosed** With 2 others
- **Jan** **[spacebands](https://millionrounds.com/company/spacebands)** Venture · GB **$1.5M** With 2 others
- **Jan** **[Academii](https://millionrounds.com/company/academii)** Series A · GB **$1.4M** Sole investor
- **2025** 15 rounds
- **Dec** **[Llusern Scientific](https://millionrounds.com/company/llusern-scientific)** Crowdfunding · AU **$57K** With 1 other
- **Nov** **[Reacta Biotech](https://millionrounds.com/company/reacta-biotech)** Venture · GB **$3.7M** With 1 other
- **Nov** **[Reacta Healthcare](https://millionrounds.com/company/reacta-healthcare)** Venture · AU **$3.7M** With 2 others
- **Sept** **[QLM Technology](https://millionrounds.com/company/qlm-technology)** Seed · GB **$4.7M** With 3 others
- **Jul** **[Amotio](https://millionrounds.com/company/amotio)** Pre-seed · GB **$1.1M** With 1 other
- **Jun** **[Ceryx Medical](https://millionrounds.com/company/ceryx-medical)** Venture · GB **$6.8M** With 3 others
- **May** **[Space Forge](https://millionrounds.com/company/space-forge)** Series A · GB · TechCrunch **$30M** With 6 others
- **Apr** **[Tirion Homes](https://millionrounds.com/company/tirion-homes)** Debt · GB **$23M** Sole investor
- **Feb** **[Finalrentals](https://millionrounds.com/company/finalrentals)** Seed · GB · TechStartups **$1.3M** With 2 others
- **Feb** **[Jiva.ai](https://millionrounds.com/company/jiva-ai)** Venture · GB **Undisclosed** With 1 other
- **Feb** **[Driverly](https://millionrounds.com/company/driverly)** Venture · GB **Undisclosed** Sole investor
- **Jan** **[Mr Holt’s](https://millionrounds.com/company/mr-holt-s)** Debt · GB **$328K** Sole investor
- **Jan** **[Prosper](https://millionrounds.com/company/prosper)** Seed · GB **$5.0M** With 8 others
- **Jan** **[Pelly](https://millionrounds.com/company/pelly)** Pre-seed · GB **$433K** Sole investor
- **Jan** **[Zero Fintech](https://millionrounds.com/company/zero-fintech)** Crowdfunding · GB **$1.4M** Sole investor
- **2024** 22 rounds
- **Dec** **[Amped PCR](https://millionrounds.com/company/amped-pcr)** Seed · GB **$679K** With 1 other
- **Dec** **[Bikmo](https://millionrounds.com/company/bikmo)** Growth · GB **$6.0M** Sole investor
- **Dec** **[Coffi Lab](https://millionrounds.com/company/coffi-lab)** Seed · GB **$2.1M** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **29** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## The cheque

Pre-seed Seed Series A

Median round joined **$1.3M** the round, not its cheque Alone, median **$668K**

Led 1 of 123 rounds **1%**

- **Sole investor:** 59 rounds
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Seed said *41*
- Venture *35*
- Debt *13*
- Pre-seed said *12*
- Series A said *6*
- Grant *6*
- Series B said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Innovate UK](https://millionrounds.com/fund/innovate-uk) 18
- [SFC Capital](https://millionrounds.com/fund/sfc-capital) 9
- [Future Planet Capital](https://millionrounds.com/fund/future-planet-capital) 5
- [British Business Bank](https://millionrounds.com/fund/national-security-strategic-investment-fund) 3
- [EIC Accelerator](https://millionrounds.com/fund/eic-accelerator) 3
- [EISMEA](https://millionrounds.com/fund/eismea) 3

**Pitching Development Bank of Wales?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

Add to your CRM *→*

## Who they invest alongside

The investors most often in the same rounds as Development Bank of Wales. A count of rooms they were both in, not a relationship either has claimed.

[**Innovate UK** VC firm **18** rounds together](https://millionrounds.com/fund/innovate-uk)[**SFC Capital** Angel network **9** rounds together](https://millionrounds.com/fund/sfc-capital)[**Future Planet Capital** VC firm **5** rounds together](https://millionrounds.com/fund/future-planet-capital)[**British Business Bank** Corporate VC **3** rounds together](https://millionrounds.com/fund/national-security-strategic-investment-fund)[**EIC Accelerator** Government **3** rounds together](https://millionrounds.com/fund/eic-accelerator)[**EISMEA** Investment firm **3** rounds together](https://millionrounds.com/fund/eismea)[**HSBC** Growth equity **3** rounds together](https://millionrounds.com/fund/hsbc)[**Maven Capital Partners** Private equity **3** rounds together](https://millionrounds.com/fund/maven-capital-partners)[**Mercia Tech** VC firm **3** rounds together](https://millionrounds.com/fund/mercia-tech)[**ACF Investors** VC firm **2** rounds together](https://millionrounds.com/fund/acf-investors)[**Angel Invest** VC firm **2** rounds together](https://millionrounds.com/fund/angel-invest)[**Business Growth Fund** Private equity **2** rounds together](https://millionrounds.com/fund/bgf)

## Recently backed

The latest companies Development Bank of Wales put money into.

[**Argonaute RNA** $1.8M · Sept 2026](https://millionrounds.com/company/argonaute-rna)[**Kubos Semiconductors** $2.1M · Aug 2026](https://millionrounds.com/company/kubos-semiconductors)[**Space Forge** $13M · Jun 2026](https://millionrounds.com/company/space-forge)[**Hexigone Inhibitors** $1.6M · Jun 2026](https://millionrounds.com/company/hexigone-inhibitors)[**Breaking Change** $981K · Jun 2026](https://millionrounds.com/company/breaking-change)[**Locit** $1.3M · May 2026](https://millionrounds.com/company/locit)

## Quick answers about Development Bank of Wales

### What does Development Bank of Wales invest in?

Development Bank of Wales invests most often at Seed and Venture (67% of the rounds on record), in sectors such as Banking, Wealthtech and Regtech.

### How active is Development Bank of Wales?

123 investments on record, 25 of them in the last 12 months, and it led 1. The most recent was in Oct 2026.

### What has Development Bank of Wales invested in recently?

Its most recent investments on record: Reclinker (Series A, Oct 2026), Argonaute RNA (Venture, Sept 2026) and Kubos Semiconductors (Grant, Aug 2026).

### How big are Development Bank of Wales's cheques?

The median round it joins is $1.3M.

### Does Development Bank of Wales lead rounds?

Sometimes: it led 1 of its 123 investments on record (1%).

### Where does Development Bank of Wales invest?

Most of the companies it backs are in the United Kingdom (88%) and Australia (10%).

### Is Development Bank of Wales investing now?

Yes: it is actively investing, with 25 investments in the last 12 months.

### Who does Development Bank of Wales invest alongside?

Most often Innovate UK (18 rounds together), SFC Capital (9 rounds together) and Future Planet Capital (5 rounds together).

## Raising now?

Find the investors who back rounds like yours, and keep every conversation on one fundraising board.

Find similar investorsOpen your CRM

Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=development-bank-of-wales) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=development-bank-of-wales)